From The Blog

Lease Renewal Tip for Southern California Tenants

Regardless of what your lease says, starting the process of renewing your lease early could save you money.  Early meaning as much as 9-12 months before your lease expiration for smaller spaces, 18 months for larger spaces.  Renewing with just a few months to go before a lease expiration, puts you “as the tenant” in a tough spot.  If terms cannot be easily agreed to on a renewal between Landlord and Tenant, having more time to look at other possible locations is critical.  For the best negotiation and advantage, Tenants need to be sure they could easily move to another location with enough time if they cannot agree to new renewal terms.  While some leases will have specifics as to a lease renewal – at the time of any lease renewal – regardless of what the lease says – every thing can be re-negotiated depending upon the state of the market.  In the 2012 real estate market, Tenants have the advantage to negotiate a better deal because of high vacancy rates.  Use a “Tenant Rep” broker (no cost to Tenant) and don’t go it alone direct with Landlord.  Tenant Rep brokers will get you a better deal than a direct deal 99% of the time.  Contact Barbara at (310) 939-9389 for Southern California real estate information or beyond.